After the launch of a Bitcoin spot ETF, it achieved a trading volume of $25.36 billion within 11 trading days. Market analysts speculate that Charles Schwab, the largest online brokerage firm in the United States, will also enter this business and get a share of the pie.
(Teaser:
Taiwanese cannot invest in Bitcoin spot ETF! Multiple mainstream brokerages: FSC prohibits delegated buying
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(Context:
Wall Street’s resistance: Vanguard prohibits customers from trading Bitcoin spot ETF: BTC is an immature asset with no intrinsic economic value
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After approving 11 Bitcoin spot ETFs in one go this month, the U.S. Securities and Exchange Commission (SEC) achieved an astonishing trading volume of $25.36 billion within just 11 trading days.
Recently, there have been reports in the financial market that Charles Schwab, the U.S. financial giant, is also about to enter this business and get a share of the pie.
With 30 million active brokerage accounts, Charles Schwab, located in San Francisco, California, is the largest online brokerage firm in the United States. Established in 1971, its asset management scale has reached $7.13 trillion, with a market value of $116.7 billion.
Given its comprehensive brokerage, banking, and financial advisory services, as well as its rich experience in handling various exchange-traded products (ETPs), Charles Schwab’s entry has become a target of extreme concern for market analysts. Eric Balchunas, senior ETF analyst at Bloomberg, commented on this over the weekend:
Currently, Charles Schwab has already provided 11 Bitcoin spot ETFs on Schwab.com and thinkorswim platforms, but so far, it has not launched its own exclusive Bitcoin spot ETF product.
On the other hand, writer Lisa Shidler also delved into how Charles Schwab could use its extensive scale and competitively-priced pricing strategy to launch Bitcoin products to seize the market.
Analysts believe that the launch of Bitcoin spot ETFs is bound to happen. Eric Balchunas speculates that Charles Schwab may launch a product with a 0.1% fee in the next few months. Bryan Armour, an analyst at Morningstar, also affirms that this approach indeed aligns with Charles Schwab’s operating style.
He said that Charles Schwab seems to have a unique strategy in product development. They have given up the advantage of being a fast follower in the market and instead focus more on thoughtful product portfolios, which is expected to help them maintain competitiveness in the long run.
In addition, Nate Geraci, co-founder of ETF Institute, also expressed agreement with Eric Balchunas and Lisa Shidler.
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